Network Management System Market to Surge at 8.6% CAGR, Reaching US$21 Billion by 2032

The global Network Management System (NMS) market is set to witness robust growth over the next decade, with a projected Compound Annual Growth Rate (CAGR) of 8.6% between 2022 and 2032. As per market forecasts, the market size is anticipated to surge from US$ 9.1 Billion in 2022 to an impressive US$ 21 Billion by 2032.

In today’s technologically-driven business landscape, the effective management of networks holds paramount importance, especially for enterprises operating in the IT sector. The proficient handling of networks ensures uninterrupted service delivery, seamless internal and external communication, and overall operational continuity. The upcoming wave of network management systems promises enhanced trajectory management capabilities, poised to revolutionize network operations.

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The evolution of networks has been transformative due to rapid technological advancements. Network administrators now face the challenge of maintaining complex networks that consist of diverse hardware and software components, manufactured by various vendors and distributed globally. This burgeoning demand for Network Management System products that cater to the burgeoning industry needs, offering automated network management solutions, is a major driver behind the market’s growth.

Key Takeaways:

  • Projected CAGR of 8.6% for the Network Management System market between 2022 and 2032.
  • Market size estimated to grow from US$ 9.1 Billion in 2022 to US$ 21 Billion by 2032.
  • Evolution of networks and technological complexity drives demand for efficient NMS solutions.
  • Multinational corporations prioritizing secure and user-friendly network management solutions.
  • Small and medium-sized enterprises inclined towards on-premise NMS deployments for enhanced support.

Competitive Landscape  

BMC Software, Cisco, CA Technologies, AppNeta, Extreme Networks, Accedian, HelpSystems, Ipswitch, Kentik, Micro Focus, NETSOCUT, Nokia, Riverbed Technology, SolarWinds, VIAVI Solutions, Flowmon Networks, Paessler, Colasoft, and Cubro Network Visibility are among the major players in the network management system (NMS) market.

Global wireless communication solution providers and network equipment manufacturers are launching new network monitoring and management solutions to help operators manage their networks more efficiently.

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Recent Developments 

  • In February 2017, Ericsson unveiled as a service that assists operators in their travels to virtualization, SDN, and 5G network transformations. Nokia released the NetAct Cloud network management technology in May 2016, allowing operators to deploy new network capabilities with minimum downtime. The technology is capable of handling 5G network needs and offers total mobile network control.
  • In January 2017, the Chinese government lowered subsidies and relaxed laws in order to encourage more private investment in order to strengthen its internet services.
  • Riverbed Technology, Inc. formed a collaboration agreement with Huawei Technologies Co., Ltd in 2017 to supply Huawei CloudEPN with Riverbed SteelHead integrated solutions that may assist clients in simplifying network administration in the cloud era.

Key segments

By Component:

  • Platform
  • Solutions
  • Services

By Deployment Type:

  • Cloud
  • On-Premises

By Organisational Size:

  • Large Enterprise
  • Small & Medium Sized Enterprise

By End Use:

  • Service Providers
  • Verticals

By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • Middle East & Africa

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Securing the Future: Mobile Payment Data Protection Market Surges with a 12.3% CAGR from 2022 to 2032

The market for mobile payment data protection is expected to develop at a compound annual growth rate (CAGR) of 12.3% between 2022 and 2032. By 2022, the global market for mobile payment data protection is expected to be valued US$ 603.9 billion. A US$ 1.9 trillion expansion of the market is anticipated.

Mobile payment data security software is becoming more and more necessary as digital payments become more popular and fraudulent activities involving these transactions rise. This software safeguards mobile data, including photos and videos, as well as administrative data like messages and account numbers.

Mobile payment data security technology, which safeguards the payment gateways, is used by smartphone makers and payment vendors in response to malicious actions such as cyber-attacks connected to e-commerce purchases. This increases the need for solutions that safeguard mobile payment data.

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Covid-19 pandemic has pushed the companies to shift from regular payments options to the quick online money transfer options, the growing threat to company’s data and accounts go along. The mobile payment data protection platform comes into play here and helps them to have control over each payment touchpoint.

JP Morgan states that nearly 75% of the organizations have faced a payment fraud attack, rising concerns over the company’s data, recruitment data and compliance, and expanding the mobile payment data protection market in new market spaces.

Vendors providing end-to-end encryption and payment protection along with CyberSource for e-commerce platforms, making multiple transactions closed chain, enhancing the device-based security in changing dynamics of payments.

KEY TAKEAWAYS:

  • The payment security solution segment is the biggest segment in the mobile payment data protection market by offering and is likely to hold the most lucrative space in the forecast period, owing to the increased payment applications and cyberattacks.
  • The Digital wallet segment holds the prominence in mobile payment data protection market by payment mode category and is expected to be the biggest in the forecast period. Its growth is attributed to the factors like QR based transactions and wallets being attached to multiple platforms like Netflix etc.
  • The services segment is the largest segment in the mobile payment data protection market by component, while the small and medium enterprises (SMEs) segment performs better in the market by organization size.
  • North America region is the biggest market in the mobile payment data protection market, attributed to higher phishing attacks, cyberattacks and fraudulent activities, while the APAC region is the highest growing region in the market.

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KEY PLAYERS:

  • Google (Alphabet Inc.)
  • Samsung Electronics Co. Ltd.
  • Visa Inc.
  • Alibaba Group Holdings Limited
  • PayPal Holdings Inc.
  • WeChat (Tencent Holdings Limited)
  • American Express Company
  • M Pesa
  • Money Gram International
  • Amazon.com Inc.
  • Apple Inc.

RECENT DEVELOPMENTS

  • CyberSource Corporation has introduced its mobile payment data protection solution for different types of end-users that takes care of Payment Acceptance, Fraud Management and payment Security, increasing the demand for mobile payment data protection platforms.
  • Transaction Network Service (TNI) has extended its mobile payment data protection services like ADVAM Products, TNSOnline and TNSPay Protect, providing the control to admin over the payment touchpoints.

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KEY SEGMENTS

By Product:

  • Contactless Tokenisation
  • Remote Tokenisation

By End User:

  • Telecom & Information Technology
  • Banking & Financial Service
  • Government
  • Transportation
  • Retail
  • Entertainment and Media
  • Other End User Industries

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Accounting Software Market Soars to USD 14.1 Billion by 2032: Future Market Insights

According to a recent report by Future Market Insights (FMI), the market for accounting software is expected to reach a valuation of US$ 14.1 billion in 2032, growing at a compound annual growth rate (CAGR) of about 5.8%. The market is anticipated to reach US$ 8.0 billion by the end of 2022.

The software category is composed of the commercial off-the-shelf, enterprise accounting, custom accounting, reconciliation, and tax management software divisions. The firm accounting software market is predicted to develop at a 6.8% annual pace and reach US$ 5.2 billion in value by 2032.

Many businesses are using enterprise accounting software because it allows the board to conduct corporate operations in a single system. ERP is a well-known subset of well-known software, and an ERP system is made up of several modules that each clearly address certain business goals.

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Several organizations have been implementing enterprise accounting software since they assist with carrying out resource management and coordinate all business activities in a single system. ERP is a prominent section of enterprise software, and an ERP system comprises different modules that address explicit business needs.

ERP system does not require a wide range of tools to handle the various needs of different departments, as it has an integrated solution multiple tasks can foresee in a single platform.

As enterprise business grows, the need of automating complex data and as the reporting strategies will increase and the monitoring of assets is very much required, and in these scenarios, enterprise accounting software is prominently useful. The accounting and fund management capacities and abilities intrinsic in ERP arrangements give real-time information to the departments which boost decision-making effectively.

Key Takeaways from the Accounting Software Market Study

  • Enterprise accounting software is expected to hold the largest share in the component segment and is expected to grow at a CAGR of 6.8% in forecast period.
  • The market in the U.S. is projected to account for a CAGR 7.0% from 2022 to 2032.
  • Software as a Service is expected to emerge as the fastest-growing segment with market value of US$ 9.2 Bn in 2032 and registering a CAGR of 6.8% from 2022 to 2032.

 “Global revenue through the offices of certified public accountants is expected to swell by US$ 1 Bn between 2022 and 2024; carrying enormous opportunity for accounting software market”opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.

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Who is winning?

Leading players of Accounting Software Market are focused in implementing for tracking and recording the fund inflow and outflow. Previously, accounts were managed manually and recorded every transaction in a physical book called ledgers. Accounting software replaces these records and permits the organization to record their fund transactions with the software.

Major players present in the Accounting Software Market industry are Infor, Microsoft Corporation, MRI Software, LLC, Oracle, Sage, SAP SE, Workday, Zeta Global among others.

Get More Valuable Insights 

Future Market Insights, in its new offering, provides an unbiased analysis of the global Accounting Software Market, presenting historical demand data (2016-2021) and forecast statistics for the period from 2022 to 2032.

The study divulges compelling insights on the Accounting Software Market based on Deployment (Software as a Service, On-Premise, Hybrid) Software Type (Commercial of the Shelf, Enterprise Accounting Software, Custom Accounting Software, Reconciliation, Tax Management) Application (Payroll Management Systems, Billing & Invoice System, Enterprise Resource Planning Systems, Time & Expense Management Systems, Others(Recurring Billing Software, Small)) Enterprise Size (Large Enterprise, Small and Medium Enterprise) Industry (Banking Financial Services and Insurance, Telecom and Information and Technology, Manufacturing, Construction, Wholesale Distribution, Non-Profit Organization, Chemicals, Food and Beverage, Others) across five major regions.

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Global Accounting Software Market by Category

By Deployment:

  • Software as a Service (SaaS)
  • On-Premise
  • Hybrid

By Software Type:

  • Commercial of the Shelf
  • Enterprise Accounting Software (ERP)
  • Custom Accounting Software
  • Reconciliation
  • Tax Management

By Application:

  • Payroll Management Systems
  • Billing & Invoice System
  • Enterprise Resource Planning Systems
  • Time & Expense Management Systems
  • Others(Recurring Billing Software, Small)

By Enterprise Size:

  • Large Enterprise
  • Small and Medium Enterprise

By Industry:

  • Banking Financial Services and Insurance
  • Telecom and Information and Technology
  • Manufacturing
  • Construction
  • Wholesale Distribution
  • Non-Profit Organization
  • Chemicals
  • Food and Beverage
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Digital Telepathology Industry Poised for Explosive Growth at 9.7% CAGR, Reaching US$1.96 Billion by 2033 | FMI Analysis

Global Digital Telepathology Industry
Global Digital Telepathology Industry

The Global Digital Telepathology Industry is on the cusp of a transformative era, poised to revolutionize healthcare practices worldwide. Driven by technological advancements and its critical role in diagnostics, the market is expected to witness a significant surge, reaching an estimated US$776.8 million by 2023.

Digital Telepathology on the Rise

Fueled by its numerous applications, digital telepathology is experiencing remarkable growth. Top market experts predict a stellar Compound Annual Growth Rate (CAGR) of 9.7% for digital telepathology equipment sales from 2023 to 2033. This trajectory highlights the sector’s immense potential, with market projections reaching a staggering US$1.96 billion by 2033.

The rise of the Global Digital Telepathology Industry is emblematic of the digital age, propelled by relentless innovation in information technology. This groundbreaking field harnesses telecommunications technology to transmit pathology data seamlessly across vast distances, facilitating diagnosis, education, and research endeavors.

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Global Digital Telepathology Industry Drivers

Undoubtedly, the global information technology revolution will serve as a major driving force for the Global Digital Telepathology Industry. While developed countries already possess robust digital infrastructure, Internet penetration is rapidly expanding in developing regions. Digital Telepathology will enable pathologists to examine, diagnose, and research patients from remote areas within their country and worldwide. A second crucial factor is the flexibility and ease of obtaining a second opinion. The Digital Telepathology market will enable pathologists from any part of the globe to consult with their peers in other nations, ensuring accurate diagnosis. The World Health Organization estimates that cancer cases will increase by approximately 70% over the next two decades, with roughly 1.4 million cases undiagnosed. Therefore, timely and accurate diagnosis will be critical in saving millions of lives. The third anticipated driver of the Digital Telepathology market is the expected increase in digitization in the research sector. Digital pathology is advantageous in medical education, histopathology, and the examination of frozen section specimens. Pathologists can convert physical data into digital files using digital technology, reducing the need for physical storage and increasing efficiency while reducing costs.

Global Digital Telepathology Industry Restraints

The Digital Telepathology business is plagued by various issues, the most serious of which is cost. The expense of Digital Telepathology equipment will almost certainly be an impediment in developing countries. Government reimbursements are typically unavailable, making the initial outlay onerous. Another issue is concerns regarding regulatory compliance. Because Digital Telepathology straddles the line between medicine and technology, legislation in each country will differ. Pathologists could also be against it. Few pathologists today can truly operate these devices, and many are skeptical of the outcomes. These are some of the factors contributing to the current tiny size of the Global Digital Telepathology Industry.

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Digital Telepathology Industry Key Regions

North America, the EU, Asia-Pacific, MENA, and the rest of the world are the primary geographic regions served by the Digital Telepathology market. North America is the largest market, with moderate growth expected over the next decade. This is owing to a robust healthcare system, legislation such as the Affordable Treatment Act, the high occurrence of various cancers, and an aging population in need of medical treatment. It is also aided by world-class medical education and research facilities, the quick embrace of technology, and the availability of government reimbursement in these key disciplines. Europe is the second largest market but is expected to remain flat or post negative growth. However, the high prevalence of cancer in this region will ensure that there remains a strong future for the Digital Telepathology market there. Asia-Pacific is anticipated to be the market of the future mainly because of China, India, and Japan.

Global Digital Telepathology Industry Key Market Players 

Some companies involved in the Global Digital Telepathology Industry include Leica Biosystems, Ventana Medical Systems, Inc., GE Healthcare, Olympus Corporation, Philips Healthcare, MikroSkan Technologies, Inc., and many others.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, types, and applications.

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Key Segments of Global Digital Telepathology Industry Survey

By End User:

  • Pharmaceutical And Biotech Companies
  • Hospitals
  • Academic And Research Centers
  • Others

By Application:

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East & Africa

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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5G Security Market Surges: Hits US$ 12.5 Billion by 2032, Fueled by 26.4% CAGR, Reports Future Market Insights

The global 5G security market, valued at US$ 1.2 Billion in 2022, is set to experience remarkable growth, reaching an estimated US$ 12.5 Billion by the year 2032. These findings emerge from a comprehensive research study conducted by Future Market Insights, showcasing a robust Compound Annual Growth Rate (CAGR) of 26.4% spanning the years 2022 to 2032.

Solutions include the equipment required to guarantee safety. Some tools that are utilised to provide 5G security include next-generation firewalls, data loss prevention, antivirus/antimalware, DDoS protection, security gateways, and sandboxing.

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DLP instruments help to design data loss prevention methodologies by giving pre-portrayed approach controls to follow the advancement of data. It also hinders unapproved sharing, corrupting, as well as pull of data. The data loss is mainly done via malware attack and taking control of the system. According to Verizon’s 2021 Data Breach Investigations Report, malware was involved in nearly 15% of data breach. To reduce the malware attacks and security breaches companies are focussed in 5G technology.

With the growing concern of consumers worldwide regarding their health and their growing annual healthcare budget, healthcare stakeholders are becoming richer every day. But, at the same time with the evolution of new technologies and their need for speed and automation have made them vulnerable to cyber threats.

5G capabilities have added numerous advantages to healthcare sector including speed, capacity, hyper-connectivity, low latency, and data-driven insights. The higher speed and lower latency offered by 5G can be a boon to the cyber attackers as it offers them opportunity to access more data due to hyper-connectivity.

Key Takeaways from the 5G Security Market Study

  • 5G Non-standalone is expected to hold the largest share in the architecture segment and is expected to grow at a CAGR of 24.9% in forecast period.
  • The U.S. holds a growth of CAGR 25.9% from 2022 to 2032.
  • The solutions segment is expected to emerge as the fastest-growing segment, registering a CAGR of 25.8% from 2022 to 2032.

Drivers and Opportunities

The market’s unprecedented growth is driven by the convergence of technological innovation and pressing security concerns. The widespread adoption of 5G technology across industries amplifies the need for comprehensive security solutions, propelling market expansion. Additionally, the rise of the Internet of Things (IoT) and the proliferation of connected devices create a conducive environment for the 5G security market to flourish.

Competition Analysis

The 5G security landscape is characterized by a competitive market space featuring prominent players committed to offering state-of-the-art security solutions. Industry leaders are investing in research and development to deliver cutting-edge products that safeguard against emerging threats, while also focusing on strategic collaborations to consolidate their market presence.

Regional Trends

The growth of the 5G security market is not confined to a specific region; it exhibits a global trend. North America, Europe, Asia-Pacific, and other regions are witnessing substantial investments in 5G infrastructure, thus driving the demand for effective security measures to protect these critical networks.

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Global 5G Security Market by Category

By Component:

  • Solutions
    • Next-Generation Firewall
    • Data Loss Prevention
    • Antivirus/Antimalware
    • DDoS Protection
    • Security Gateway
    • Sandboxing
    • Others
  • Services
    • Consulting Services
    • Implementation Services
    • Support and Maintenance Services

By Network Component Security:

  • RAN Security
  • Core Security

By Architecture:

  • 5G NR Non-standalone
  • 5G NR Standalone

By End User:

  • Telecom Operators
  • Enterprises

By Deployment Type:

  • Cloud
  • On-Premises

By Vertical:

  • Manufacturing
  • Healthcare
  • Energy and Utilities
  • Retail
  • Automotive and Transportation
  • Public Safety
  • Media and Entertainment
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Healthcare Interoperability Solutions Market Poised for Exponential Growth, Projected to Reach US$ 16.2 Billion by 2033 at a 14.5% CAGR

Healthcare Interoperability Solutions Market
Healthcare Interoperability Solutions Market

The global healthcare interoperability solutions market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 14.5% predicted to drive the market to a US$ 16.2 billion valuation by the end of 2033. Compared to the US$ 3.7 billion recorded in 2022, this exponential development trend represents a significant increase.

In order to provide smooth data interchange and integration between various healthcare platforms and systems, healthcare interoperability solutions are essential. The need for interoperable solutions is developing rapidly due to the increasing digitization of healthcare records and the growing emphasis on patient-centric care delivery.

Interoperability solutions play a crucial role in modernizing healthcare systems by facilitating the exchange of electronic health records (EHRs) and other health-related information across different healthcare providers, systems, and settings. With the increasing emphasis on patient-centered care and data-driven decision-making, interoperability solutions have become essential for improving care coordination, enhancing patient outcomes, and reducing healthcare costs.

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According to the latest healthcare interoperability solutions market survey report by Future Market Insights, the global market has huge growth potential since the demand for healthcare is rising. It has been observed that specifically in developed economies, healthcare expenses have risen over the past few years. The Organization for Economic Co-operation and Development (OECD) estimates that in developed countries, public spending on healthcare and long-term care accounted for around 6% of GDP in 2018 and is projected to increase to 9% by 2030 and 14% by 2060. As the world’s population ages and life expectancy increased, interoperability and data sharing will be more essential to providing better healthcare and have a major influence. This will allow the market to augment quicker. One of the latest trends and key drivers in the market for healthcare interoperability solutions is the use of cloud technology for healthcare services.

Key Takeaways:

  • Digital advancements in the global healthcare interoperability solutions market offer video conferencing, interoperability software, and phonic conversations, propelling this market to a high growth stage. Healthcare interoperability technologies are expected to decrease the cost of delayed diagnosis and therapy by enabling real-time data access. The future of healthcare depends on sharing data throughout the value stream and integrating all medical devices.
  • At present, healthcare is focused on a curative care approach but data-driven technologies can change this into an exclusively preventive care paradigm, which will create a lucrative potential for the market.
  • The global market for healthcare interoperability solutions is predicted to develop over the assessment timeframe. With more IT systems installed around the globe are elevating the overall healthcare sector.
  • To digitize health data and processes, hospitals and healthcare organizations around the world are using healthcare IT solutions like EHR systems. The amount of data in electronic health records is propelling, making it challenging to store significant amounts of data securely without facing the risk of losing crucial data.
  • The amount of healthcare data within growing economies is further spreading to surge populations. Government attempts to install interoperable solutions, an increase in government spending on healthcare systems, and the growing acceptance of automation technology all together indicate to a significant growth opportunity for market players across these countries.

Competitive Landscape

The number of new participants is anticipated to expand as a result of untapped opportunities, leading to more competition in the market for healthcare interoperability solutions.

Key players:

  • Allscripts Healthcare Solutions
  • Epic Systems Corporation
  • Cerner Corporation, Inc.
  • Infor, Inc.
  • Koninklijke Philips NV
  • Orion Health Group Limited,
  • Quality Systems, Inc.
  • OSP Labs,
  • ViSolve, Inc.
  • InterSystems Corporation
  • iNTERFACEWARE

More Insights into Healthcare Interoperability Solutions Market

The North American region is anticipated to dominate the global healthcare interoperability solutions market. The United States is predicted to account for around 35.3% of the global market in 2023.

Surging demand for effective healthcare services, the need to reduce healthcare costs, and successful EHR implementation by healthcare organizations are the main drivers influencing the adoption of interoperability solutions in the USA.

Germany is predicted to account for 4.9% of the global market share in 2023. The growth in the region is attributed to the better-built healthcare infrastructure for the incorporation of clinical data from patient care and information technology with medical research in Germany.

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Key Segments Covered in Healthcare Interoperability Solutions Market Industry Research

By Type:

  • Solutions
    • EHR Interoperability
    • HIE Interoperability
    • Others
  • Services

By Level of Interoperability:

  • Foundational Interoperability
  • Structural Interoperability
  • Semantic Interoperability

By Deployment:

  • Cloud Based
  • On premise

By End User:

  • Healthcare Providers
  • Healthcare Payers

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Cell Therapy Manufacturing Industry on a Soaring Trajectory: Market to Reach US$15.6 Billion by 2033, Driven by 14.2% CAGR

Global Cell Therapy Manufacturing Industry
Global Cell Therapy Manufacturing Industry

The Global Cell Therapy Manufacturing Industry is poised for remarkable growth, fueled by a groundbreaking discovery. According to a recent analysis, the market is expected to reach a staggering US$15,634.67 million by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 14.2%. This impressive projection signifies a significant leap from the market’s estimated value of US$4,134.48 million at the end of 2023.

Autologous Cell Therapy Manufacturing Leads Charge with 56.0% Dominance in 2021

Driving this dynamic landscape is autologous cell therapy manufacturing, spearheading an impressive 56.0% market share in 2021. This dominance underscores the pivotal role autologous therapies play in shaping the future of healthcare solutions. As the industry evolves, the prominence of autologous cell therapy manufacturing continues to pave the way for groundbreaking advancements.

Quality Standards Evolution Fuels Advancements in Cell Therapy Manufacturing

The industry’s relentless pursuit of excellence is evident in the evolving quality standards within cell therapy manufacturing processes. This evolution directly translates to enhanced product consistency, reliability, and efficacy. The result is the emergence of sophisticated gene-edited cell-based products, exemplified by the revolutionary chimeric antigen receptor (CAR)-T cells, and groundbreaking tissue engineering products like Holoclar.

Shaping the Future of Healthcare Solutions

As the Global Cell Therapy Manufacturing Industry continues its exponential growth, it solidifies its position as a key player in shaping the future of healthcare solutions. The 14.2% CAGR forecasted from 2023 onwards reflects the industry’s resilience and commitment to innovation. The groundbreaking advancements in autologous cell therapy and the continuous evolution of quality standards affirm the industry’s dedication to providing cutting-edge solutions that redefine healthcare.

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Many academic centers are nowadays investing in the development of such automated devices for point-of-care manufacturing and engagement in decentralized multi-center Clinical Trials. The Global Cell Therapy Manufacturing Industry would thus observe a boom in the next decade. Besides, the introduction of novel therapies licensed by regulatory bodies for targeted therapeutic approaches would further propel the overall growth in the market during the projected period.

Key Takeaways from the Global Cell Therapy Manufacturing Industry Study

  • By source, the autologous segment held a global market share of about 0% in 2021.
  • Based on indication, the cancer segment held nearly 0% in 2021 in the cell therapy manufacturing market.
  • In terms of purpose, the clinical segment accounted for around 0% of the global market share in 2021.
  • The injectable route of administration of cell therapies generated a global market share of around 0% in 2021.
  • By cell type, the hematopoietic stem cells (HSC) segment held a share of around 0% in the global cell therapy manufacturing market in 2021.
  • By end use, the hospital settings category generated a share of around 1% in 2021 in the global cell therapy manufacturing market.
  • China held a share of around 2% in 2021 in the East Asia cell therapy manufacturing market.

“Increasing number of research activities by key companies to reduce risks and get ready for a highly productive future are anticipated to drive the market. Besides, they are striving to develop innovative technologies that can assist investigators in automating their processes for gaining success in future,”says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Competitive Landscape: Global Cell Therapy Manufacturing Industry

Key players in the cell therapy manufacturing market are focusing on R&D activities to initiate regenerative medicine manufacturing. Moreover, they are promoting commercial manufacturing for their clients by offering novel solutions to cell therapy developers.

For instance,

  • In March 2022, Thermo Fisher Scientific presented a new large-volume electroporation system, the purpose of which is to simplify cell therapy development. The company aims to simplify the transition from clinical development to commercial manufacturing among Cell Therapy Developers.
  • Charles River Laboratories’ Memphis plant became the first CDMO in North America to manufacture commercial allogeneic cell therapies after receiving European Medicines Agency (EMA) approval in August 2022.

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Get Exclusive Insights on the Global Cell Therapy Manufacturing Industry

Future Market Insights offers a unique perspective and actionable insights on the cell therapy manufacturing market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032. The Global Cell Therapy Manufacturing Industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

Global Cell Therapy Manufacturing Industry Key Players:

  1. Merck KGaA
  2. Avantor, Inc.
  3. Cell Therapies Pty Ltd
  4. Thermo Fisher Scientific
  5. Charles River Laboratories
  6. Catalent, Inc
  7. Bio-Techne
  8. Cytiva
  9. Lonza
  10. The Discovery Labs
  11. BIOCENTRIQ
  12. FUJIFILM Diosynth Biotechnologies
  13. Novartis AG
  14. Bristol-Myers Squibb Company
  15. Gilead Sciences, Inc.
  16. WuXi AppTec.
  17. OXGENE
  18. Pharmaron
  19. Aldevron
  20. FLODESIGN SONICS
  21. Exothera

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Key Segments Covered in the Global Cell Therapy Manufacturing Industry

By Source:

  • Autologous
  • Allogenic

By Indication:

  • HIV
  • Autoimmune Disorders
  • Immune Deficiencies
  • Cancer
  • Neurological Disorders

By Manufacturing Purpose:

  • Clinical
  • Commercial
  • Pre-clinical

By Route of Administration:

  • Topical
  • Injectable
  • Infusion
  • Implantable Bio-Scaffold

By Cell Type:

  • Hematopoietic (Blood-Forming) Stem Cells (HSC)
  • Skeletal Muscle Stem Cells
  • Mesenchymal Stem Cells
  • Lymphocytes
  • Dendritic Cells
  • Pancreatic Islet Cells
  • CAR-T Cells

By End User:

  • Hospital Settings
  • Intensive Outpatient Treatment Centers
  • Academic and Research Institutes
  • Specialty Clinics

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Global Bone Marrow Transplant Industry is anticipated to reach US$ 14.86 billion by 2033, with a consistent 3.4% CAGR | FMI

Global Bone Marrow Transplant Industry
Global Bone Marrow Transplant Industry

The Global Bone Marrow Transplant Industry is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 3.4% from 2023 to 2033. This upswing marks a new era of expansion for the market, according to a recent analysis by Future Market Insights (FMI). By 2033, the market is expected to reach a remarkable US$14.86 billion, reflecting a substantial increase from its anticipated value of US$10.65 billion in 2023. Notably, this projected growth represents a significant acceleration compared to the historical CAGR of 2.5%.

At the heart of this imminent surge is the groundbreaking procedure of bone marrow transplantation. Hematopoietic stem cells, residing within the soft vascular tissue in the cavities of long bones, serve as the cornerstone of this revolutionary medical practice. The bone marrow transplant procedure stands as a beacon of hope in medical science, acknowledged as the foremost method for replacing damaged or depleted bone marrow with healthy bone marrow stem cells.

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The world Global Bone Marrow Transplant Industry could rest its growth in demand on the rife prevalence of disorders such as anemia, non-Hodgkin and Hodgkin lymphoma, thalassemia, and leukemia, besides the common bone marrow diseases. No doubt, bone marrow is a critical constituent of the body’s immune and circulatory systems which are involved in the production of lymphocytes and red blood cells. A successful bone marrow transplant can save a life, which itself could be a major driver of the global market.

Drivers and Restraints:

The market is expected to have mixed dynamics, which will contribute to the Global Bone Marrow Transplant Industry’s bearish propulsion. Many factors influencing market expansion are uncovered during the investigation.

Aside from the factors driving growth, it has been determined that certain features can limit growth and slow the rate of expansion in the bone marrow transplant industry.

Drivers:

  • The rise in the prevalence of blood cancer and other blood-related disorders is the most significant factor affecting the bone marrow transplant sector. The figures predicted by FMI specialists are expected to assist the forum in moving forward over the forecast period.
  • The rising occurrences of non-Hodgkin and Hodgkin lymphoma, thalassemia, and leukemia, as well as common bone marrow illnesses worldwide, technological advancements, and improvements in healthcare infrastructure are expected to drive the market in the long run.

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Restraints:

  • It has been determined that there is a substantial expenditure involved with the therapy, and the high cost of bone marrow transplant is expected to function as a deterrent for the Global Bone Marrow Transplant Industry because a large segment of the population cannot afford such expensive disease treatment.
  • The scarcity of bone marrow donors is one factor inhibiting the growth of the bone marrow transplant industry.

Regional Insights:

Throughout the forecast period, the bone marrow transplant market in North America is expected to increase steadily. The region now holds a 32.4% market share of the worldwide bone marrow transplant market. Throughout the projection period, Europe is expected to lead the global market for bone marrow transplants. At the moment, Europe controls 50.4% of the global market for bone marrow transplants.

Global Bone Marrow Transplant Industry Key Players

The writer will create content on the general strategies of market players. Then will write the key players in the market are: AllCells LLC., STEMCELL Technologies, ATCC Inc., Hemacare Corporation, Cellular Dynamics International, ReachBio LLC., Conversant Bio, ABM Inc., PromoCell GmbH, Cruline Human biospecimen PRO, Lifeline Cell Technology, Mesoblast Ltd. and others

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Global Bone Marrow Transplant Industry Segmentation

The report provides insights on the important highlights and current trends prevailing in the market. This helps the readers to gain a deeper understanding and form an unbiased opinion of the market. Numerous segmentations have been provided for this market based on:

Based on the transplant type

  • Autologous Bone Marrow Transplant
  • Allogeneic Bone Marrow Transplant

Based on the disease indication

  • Leukemia
  • Lymphoma
  • Myeloma
  • Others (anemia, thalassemia, etc.)

Based on the end-user type

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Revolutionizing the Future: Insurtech Market Set to Soar, Projected to Reach US$ 210.7 Billion by 2033

The insurtech market is expected to rise from a paltry market value of US$ 16.6 billion in 2021 to a net worth of US$ 165.4 billion in 2032, according to Future Market Insights (FMI). A CAGR of 25.9% is predicted for the near future, which is impressive.

Because more people are becoming aware of the benefits of insurance policies, there is a high demand for the general insurance plans provided by different organisations around the world. By deploying digital insurtech or insurance technology infrastructure in response to the changing economic landscape, insurance companies have increased their market presence.

The ability of insurtech firms to provide customers with tailored plans has grown over the years of service and development of commercial insurance. The adoption of such technologies for consumer data collection and analysis by insurtech life insurance companies has increased the market’s appeal to businesses further.

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The market has become more fragmented and fiercely competitive as a result of the entry of numerous small, regional firms operating in various categories, such as insurtech vehicle insurance or insurtech house insurance companies.

The majority of the major providers are expanding their market by forming alliances and working together with banks and other financial institutions to launch new, specialised insurtech solutions for commercial insurance.

“Global insurance providers’ business models have changed as a result of the quick digitization of all significant service sectors of the economy. The addition of professional and consulting services to the available to potential clients through online platforms has required the integration of insurance technology solutions, further boosting the growth of the global insurtech market.

Insurers were found to have boosted their spending on building digital infrastructure in approximately 59% of the companies, according to the EIS group’s market survey report. This includes a record number of P&C insurtech businesses popping up on the international market.

Key Takeaways

  • As per the market analysis report, the absolute growth of the global insurtech market size in terms of value is predicted to be around US$ 148.8 Bn over the forecast years 2022 to 2032.
  • As the concept of insurtech insurance companies is expanding to new areas of service, the solution segment is growing at a faster rate than the service segment. The CAGR predicted for the solution segment is nearly 25.8% for the coming decade.
  • On the basis of various technologies adopted by life insurance tech companies, cloud computing has emerged to be the most attractive segment in the present market. The estimated growth of this segment over the forecast years is nearly 25.2%.
  • US market holds the dominant position in the global market for having the highest amount of insurtech capital, valued at about US$ 6 Bn in the year 2022. It is also the top-performing country with a CAGR of 25.6% that is predicted to reach the net worth of the regional insurtech market up to US$ 58.6 Bn by the end of this forecast period.

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Competitive Landscape

The major players operating in the global insurtech market include

  • Damco Group,
  • DXC Technology Company,
  • Majesco,
  • Oscar Insurance,
  • Quantemplate,
  • Shift Technology,
  • Trov Insurance Solutions, LLC,
  • Wipro Limited, and
  • Zhongan Insurance, among others.

One of the top insurance companies in the USA named, Universal Fire & Casualty Insurance Company, announced to accept cryptocurrency payments for premiums, starting a new business model for home insurance insurtech companies in the US market. Integration of such advanced digital facilities and blockchain technologies is expected to further boost the global insurtech market.

An automobile insurance company named Metromile also announced in December 2021 to accept cryptocurrency from its customers to pay their premiums and claim payments. This new development is anticipated to give way to some new opportunities in the domain of insurtech car insurance services in the coming days.

Key Segments

By Offering

  • Solution
  • Service

By Deployment Model

  • On-premise
  • Cloud

By Technology

  • Artificial Intelligence
  • Cloud Computing
  • Blockchain
  • Big Data & Business Analytics
  • IoT
  • Others

By End User

  • Life & Health Insurance
  • Property and Casualty (P&C) Insurance
  • Auto Insurance
  • Buildings Insurance
  • Commercial Buildings Insurance
  • Home Insurance
  • Dwelling Coverage
  • Contents Coverage
  • Marine Insurance
  • Liability Insurance
  • Others

By Application

  • Product Development & Underwriting
  • Sales & Marketing
  • Policy Admin Collection & Disbursement
  • Claims Management

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani 

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Vegan Condensed Milk Market Set for Steady Growth, Forecasted to Reach US$ 6624.8 Million by 2033

Global vegan condensed milk market is expected to rise at a CAGR of 5.1% through the forecast period. The market valuation is likely to increase from US$ 4231.8 Mn in 2023 and to US$ 6624.8 Mn by 2033.

Revenue growth in the demand for dairy free condensed milk is being fueled by several factors, including increased demand for vegan condensed milk for in-home consumption, expanding acceptance of dairy free condensed milk in confectioneries and desserts, and rising adoption of non-dairy-based products. Furthermore, rising demand for condensed milk is anticipated to drive the market’s revenue expansion, owing to customers’ increased preference for the product due to its quality and longer shelf life.

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The increasing popularity of using dairy free condensed milk as a cooking ingredient is also contributing to the product’s rising demand. Since vegan condensed milk is of high quality and can be stored for a longer period, it is often chosen by consumers for use in the kitchen. The longer a product can stay on the shelf without becoming bad, the longer it is expected to be used up. Sweetened condensed milk is a convenient replacement for regular milk in the creation of beverages and desserts because of its thick, paste-like consistency, which is a result of the sugar that is added to it after production.

Dairy free condensed milk production increases as the market demands more of it. To illustrate, in May 2022, F&N Dairies, a dairy product company based in Thailand, introduced TEAPOT sweetened vegan condensed milk in tubes with sweet potato flavour to enable the preparation of a wide range of sweets in the comfort of one’s own home. The convenient tube design allows for simple incorporation of sweetened vegan condensed milk into various dishes.

However, the increasing preference for low-sugar and low-calorie food options is anticipated to slow the market’s expansion. The International Food Information Council (IFIC) found that 72 percent of respondents in 2021 tried to cut back on or eliminate sugar from their diets. Lessening sugar intake is likely to remain a major focus for consumers in the future. The rising rates of obesity and hyperglycemia around the world have prompted consumers to reduce their intake of sugary foods and drinks, hence fueling the market’s expansion.

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Key Takeaways

  • The Japan vegan condensed milk market is expected to grow at a rate of 5.1%.
  • The rising popularity of skim condensed milk as a food option is a new trend that should boost the demand for dairy free condensed milk.
  • The German vegan condensed milk market is expected to register a CAGR of 20.9%.
  • High-quality product demand, consumer lifestyle shifts, and rising disposable income are just a few of the drivers that are propelling the sales of dairy free condensed milk over the forecast period.

Competitive Landscape

The competitive landscape of the vegan condensed milk market is likely to be diverse, with a mix of large and small companies offering a variety of products. Some companies may focus on producing high-quality, premium products, while others may focus on offering more affordable options.

In addition to traditional dairy companies that have entered the plant-based milk market, there are also several startups and smaller companies that are focusing exclusively on producing plant-based milk products. These companies may be more agile and able to respond quickly to changing consumer preferences and trends.

Competition in the vegan condensed milk industry may also come from other plant-based milk products, such as plant-based creams and cheeses, which can be used as alternatives to traditional dairy products in recipes. Companies in the vegan condensed milk market may face competition from these other plant-based products, as well as from traditional dairy products.

To succeed in this competitive market, companies may need to focus on differentiating their products, building strong brands, and responding to changing consumer preferences and trends.

Recent Developments

Teapot Sweetened Condensed Milk in Tube with Sweet Potato Flavour was introduced by F&N Dairies (Thailand) Limited in May 2022 so that home cooks could make a variety of sweets. Strawberry, matcha, and mango flavours of TEAPOT have all been released before by F&N.

Nestle’s vegan condensed milk is expected to be available at three major UK shops. The company has been working on a vegan version of Carnation condensed milk, a staple ingredient in many sweets and treats, for the past eighteen months.

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Key Segments

By Distribution Channel:

  • Online
  • Offline

By Type:

  • Skimmed
  • Part skimmed
  • Sweetened
  • Others

By Packaging:

  • Cans
  • Tubes
  • Bottles

By Application:

  • Bakery
  • Confectionary
  • Foods and Beverages
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact FMI:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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